Semmax Financial Advisors Inc. grew its position in shares of Baidu Inc (NASDAQ:BIDU) by 97.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 982 shares of the information services provider’s stock after purchasing an additional 485 shares during the period. Semmax Financial Advisors Inc.’s holdings in Baidu were worth $115,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Todd Asset Management LLC lifted its stake in Baidu by 1.1% in the second quarter. Todd Asset Management LLC now owns 77,457 shares of the information services provider’s stock worth $9,090,000 after purchasing an additional 838 shares during the last quarter. Stone Ridge Asset Management LLC bought a new stake in Baidu in the second quarter worth $200,000. R. G. Niederhoffer Capital Management Inc. bought a new stake in Baidu in the second quarter worth $458,000. Pinkerton Retirement Specialists LLC lifted its stake in Baidu by 9.7% in the second quarter. Pinkerton Retirement Specialists LLC now owns 10,600 shares of the information services provider’s stock worth $1,244,000 after purchasing an additional 939 shares during the last quarter. Finally, Bank Hapoalim BM lifted its stake in Baidu by 78.0% in the second quarter. Bank Hapoalim BM now owns 3,623 shares of the information services provider’s stock worth $425,000 after purchasing an additional 1,588 shares during the last quarter. Hedge funds and other institutional investors own 58.10% of the company’s stock.
BIDU has been the subject of several recent research reports. KeyCorp reissued an “overweight” rating and issued a $148.00 price target (down from $160.00) on shares of Baidu in a research note on Friday, August 9th. They noted that the move was a valuation call. Deutsche Bank downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $147.00 price target for the company. in a research note on Friday, May 17th. Barclays set a $135.00 price target on shares of Baidu and gave the stock a “hold” rating in a research note on Wednesday. UBS Group reissued a “hold” rating and issued a $145.00 price target on shares of Baidu in a research note on Friday, July 5th. Finally, Zacks Investment Research raised shares of Baidu from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. Baidu presently has a consensus rating of “Hold” and a consensus target price of $165.84.
Shares of NASDAQ:BIDU traded down $3.60 during midday trading on Friday, hitting $101.85. 4,979,564 shares of the stock traded hands, compared to its average volume of 5,068,792. The stock has a market capitalization of $36.84 billion, a PE ratio of 13.06, a P/E/G ratio of 13.82 and a beta of 1.70. The business’s 50 day moving average is $108.14 and its two-hundred day moving average is $140.12. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. Baidu Inc has a one year low of $93.39 and a one year high of $234.88.
Baidu declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 16th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the information services provider to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.
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